TRM Labs: Multiple ransomware attacks in 2023 led by Russian-speaking groups

ChainCatcher news, according to CoinDesk, a report released by TRM Labs on Thursday states that in 2023, Russia has been rampant in using cryptocurrency for ransomware, drug trafficking, and evading sanctions. In 2023, Russian-speaking ransomware gangs accounted for at least 69% of all ransomware crypto revenues, exceeding $500 million.

Additionally, the two largest ransomware operators in 2023 are Lockbit and ALPHV/Black Cat, both of which operate in Russian.